Sunday, July 15, 2007

Wealtion creation is a scientific process

In this reply to someone on Linkedin who seems to link religious values to wealth, I tried to explain that wealth creation is scientific and that mixing religious beliefs with it will only muddle one's thinking and interfere with one's getting rich.

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Hi,

Thanks for your thoughtful reply. I agree that giving to others is key to happiness. In fact, it's impossible to give without receiving. There's a saying I like: "You can never outgive the universe." In other words, whatever a person gives to others, he/she will receive in return many times over.

However, I don't think that pursuing wealth has much to do with one's religious beliefs or cultural / personal values. I see wealth creation as a very scientific process: some know it, others don't. There are all kinds of millionaires: Muslim, Christian, atheist, etc. This is proof that getting rich is a question of knowing how to, not a question of what one believes. Of course, self-belief (self-confidence, etc.) is important, but this is very different from religious beliefs or ethno-cultural beliefs.

I believe in God myself, but I also believe he gave me vast intellectual faculties (which I've yet to develop to their full potential) so that I can become as wealthy as possible. It's unfortunate that the book The Science of Getting Rich has a title that sounds like it's focusing on money. It does not. It focuses more on how to use one's imagination (which Einstein said was more important than intelligence) to create more value. The money comes naturally as a result. This, in fact, is the "scientific" principle of Wattles: the more value you produce, the more money you will receive. He even precisely defines "value" as the "use value," 
that is, value as determined by the client, NOT the provider. This is the most rational economic principle I've come across. I call it "infinite economic justice."

Cheers,
Peter